Yes Loans Advice?

cinderellasservant

my hubby nd i needed a loan and unfortunately have adverse credit from a mis-spent youth lol..

yes loans are a broker and NOT a loan organisation, they are clever with their wording but they refer you to a loan comapny afer having ure £49.50, usually welcome finance, also if you are a temp. worker you won't get anywhere because i know this from personal experience that you need to be in FULL time employment

hope this helps

AMILLIONDOLLARS

kt33uk wrote: »

my hubby's nephew has just applied for a £3000 loan from YES loans. I have tried explaining to him that he is not guaranteed a loan and that yes loans are not a loan company but he doesn't believe me. He has already sent them his £49.50 away to them and is convinced he is going to get £3000 in his bank account soon. The thing is he does agency work - a day here, a day there so no guaranteed income. He is only 24 and so far in the last 6 months has managed to aquire a £1000 overdraft (which he has spent), 3 mobile phone contract (none of which have been paid), a catalogue (£500 unpaid so far) and god knows what else.

I will still try to explain to him not to expect too much from the application as we have been there ourselves and got nothing at the end except being £49.50 out of pocket.

You need to show your nephew this thread, or indeed this site, it's sure to be an eye opener for him!.

AMD

shmollin

Avoid them all, they use a ploy to catch people out, They promis you that they can help but the dont. Thousands have fallen for their tricks and lost the £49.00 they paid. Its just one bi rip off. If you apply for a loan and they ask you to send money up front then alarm bells should ring. Any good loan company would never ask for money up front. If you have already sent your £49.00 then they will give you the run around but dont give up, I reported them to watchdog, and kept on untill they gave me my money back. They will tell you all sorts of things, loan being processed ect, its rubbish. Stand your ground and demand your money back.

Us_versus_Debt

you do realise that Yes Loans is related to the defunct Yes Car Credit - or at least thats what Ive been told.

phoenixchick

If you look at the small print of these companies they 'guarantee' to get you a loan or other 'suitable product' within 3 months, or some such timescale. Basically what is likely to happen is that the loan will be turned down and the person applying will be referred by Yes/Tenants Loans to a company who make lots of money from IVAs. They will have met the terms of the 'guarantee' and will therefore keep your 'admin fee', making a big profit for doing nothing! You could argue it, but chances are if you have to resort to companies like this you don't have the money to fight them.

STAY AWAY!!!!